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Question
Accounting standard-10 does not deal with the following fixed assets________.
Accounting standard-10 does not deal with the following fixed assets________.
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Solution
The correct option is D Live stock
Accounting standard - 10 (Property, plant and equipment - updated) deals with all the fixed assets like goodwill, patent, trademarks, machinery etc. It does not deal with live stock as it is a (inventory) Current asset and not a fixed asset.
Accounting standard - 10 (Property, plant and equipment - updated) deals with all the fixed assets like goodwill, patent, trademarks, machinery etc. It does not deal with live stock as it is a (inventory) Current asset and not a fixed asset.
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